Yageo agreed to acquire US peer KEMET for US$1.8 billion

According to Reuters, Yageo, the MLCC giant in Taiwan, agreed to acquire US rival Kemet for US$1.8 billion.

Yageo plans to acquire the US manufacturer for $27.20 per share, a premium of 18% over Kemet's Monday closing price.

"This integration will enhance our ability to serve our customers in consumer electronics and high-end automotive, industrial, aerospace, telecommunications and healthcare," said Yageo CEO Chen Taiming.

The two companies said in a joint statement that new businesses in North America, Europe and Asia will expand Yageo's global business landscape.

Yageo said the deal will be completed in the second half of 2020, and the combined annual revenue will reach approximately $3 billion.

At the same time, Yageo will raise funds for this transaction in cash and financing.